U.S. investigating Huawei over suspicions of bank fraud, violating Iran sanctions: sources

U.S. investigating Huawei over suspicions of bank fraud, violating Iran sanctions: sources
In 2012, HSBC paid $1.92 billion and entered a deferred prosecution agreement with the U.S. Attorney’s office in Brooklyn for violating U.S. sanctions and money-laundering laws.

An HSBC spokesperson declined to comment. HSBC is not under investigation, according to a person familiar with the matter.

Huawei also declined to comment. After news of the arrest, Huawei said it has been provided little information of the charges against Meng, adding that it was “not aware of any wrongdoing by Ms. Meng.”

A spokesman for the U.S. Attorney’s office in Brooklyn, which Reuters has reported is investigating Huawei, declined to comment.

as news of the arrest heightened anxiety over prospects of a collision between the world’s two largest economic powers, not just over tariffs but also over technological hegemony.

HSBC’s U.S.-listed shares initially fell as trading volume rose, dropping as much as 6 per cent after Reuters reported the bank’s link to the case, and were subsequently down 4.7 per cent.

Huawei is already under intense scrutiny from Washington and other western governments over its ties to the Chinese government, driven by concerns it could be used by Beijing for spying. It has been locked out of U.S. and some other markets for telecom gear, but has repeatedly insisted Beijing has no influence over it.
News Topics :
Similar Articles :
Huawei Technologies said it will “vigorously oppose” a motion filed by U.S. prosecutors on Thursday to disqualify its lead defense lawyer from a case accusing the Chinese company of bank...
Canada is aligned with Australia, New Zealand, the U.K., and the U.S. to form an intelligence alliance called the Five Eyes. The U.S., Australia, and New Zealand believe Huawei poses...
LONDON/HONG KONG — The U.S. case against the chief financial officer of China’s Huawei Technologies , who was arrested in Canada last month, centers on the company’s suspected ties to...
BEIJING China on Thursday demanded Canada release a Huawei Technologies executive who was arrested in a case that adds to technology tensions with Washington and threatens to complicate trade...
The daughter of the founder of the Chinese telecoms giant was arrested in Vancouver on 1 December and could face extradition to the US. Details of the arrest have not...